What do Anglo American Platinum, the Johannesburg Stock Exchange, Bidvest and dozens of top African financial services companies have in common? They all have women as leaders – and those women are changing the face of corporate businesses in Africa.

When news channel Africa.com announced its 2021 Definitive List of Women CEOs, they asked the 50 female corporate leaders – including Old Mutual Corporate Managing Director Prabashini Moodley – to share the stories of their rise to the top in business.

What it takes for a woman to reach the top in business

Today, a boss looks like any one of the 50 women on the Africa.com list who run publicly listed companies with a market capitalisation of $150 million or more, or one of their divisions. When asked what qualities each of those women share, Moodley points to two things.

‘We all had big dreams and someone who believed in us,’ she says. ‘Whether it is a parent or a sponsor or mentor at work, having someone who believes in you really helps your self-esteem.’

Her parents drilled the importance of hard work, a good education and financial independence into their four daughters. Moodley says, ‘That has become a big theme in my life and I was emboldened by my sisters’ career choices of statistician, mathematics teacher and doctor.’

Throughout Moodley’s working career, every single line manager has been male. ‘I’ve been working for 20 years and often reflect on why I haven’t been able to do the work I do for a woman. But all my line managers have been incredibly supportive and encouraging. Sometimes it was a small instance where someone in a senior role took the time to engage me on my ideas and opinions, and asked whether I thought I could do something beyond my current portfolio scope and complexity. I’d often say no, I don’t think so, and they’d say, yes, you can. Those words often took on a profound meaning because of who had said them and made a lasting impact,’ she says.

Is it really more difficult for women in business in Africa?

Moodley doesn’t believe that it’s more difficult for a woman in corporate in Africa than it is elsewhere in the world. ‘It seems women who’ve gone to Ivy League schools also face difficulty in navigating the complexities of the corporate world all over the world.’ But she does believe that the environment is slowly changing. ‘We have done a lot in Old Mutual and have many women on executive teams in decision-making positions.’

But there is a lot of room for improvement. ‘There’s so much to be done, so much opportunity and so many challenges in Africa and the table is big enough for everyone. More women need to be around all tables. If we manage to do that in a constructive way, we’ll realise that there is space for everybody, but we’ll have to work through some of the difficult power dynamics, and access structures that exist in the corporate world,’ she says.

And her own role in helping other women? ‘The thing that I love about being in a senior role at a large corporate organisation, despite all the pressure and the stress, is the opportunity to add my voice and the voices of people like me to the conversation, and being the one to encourage women who are at the beginning of their journey.’